BKV launches public offering of 6 million shares

BKV Corporation (NYSE: BKV) announced it has launched an underwritten public offering of 6 million shares of common stock. The company expects to grant underwriters a 30-day option to purchase up to an additional 900,000 shares at the public offering price, less underwriting discounts and commissions.

BKV intends to use net proceeds from the offering, along with cash on hand, to pay the cash consideration for its previously announced acquisition of a controlling interest in BKV-BPP Power, LLC and related expenses. If the BKV-BPP Power joint venture transaction does not close, the company expects to use proceeds for general corporate purposes.

The completion of the offering is not contingent on the joint venture transaction, and the joint venture transaction is not contingent on completing the offering, according to the company's statement.

Citigroup, Barclays and Mizuho are serving as joint book-running managers for the offering. A shelf registration statement relating to the offering has been filed with the Securities and Exchange Commission and has become effective.

BKV Corporation, headquartered in Denver, Colorado, operates as a natural gas producer with business lines including natural gas production, gathering and processing, power generation, and carbon capture technologies. The company describes itself as one of the top 20 gas-weighted natural gas producers in the United States and the largest natural gas producer by gross operated volume in the Barnett Shale.

You May Also Be Interested In

• DSS, Inc. launches public stock offering on NYSE American
• Williams closes $5.5B Momentum Midstream acquisition
• UiPath names new CFO and adds board member amid leadership reshuffle